Intuit Buys Israeli Check App for $360 Million
May. 28, 2014
Intuit, the maker of Turbo Tax and Quicken software, has agreed to acquire Israeli bill-paying app Check for $360 million. The service notifies users when bills are due and pays them automatically.
Founded in 2007, Check, formerly Pageonce, has 10 million members. The service collects revenue from advertisers and also raised $47 million in venture capital.
“Consumers increasingly want mobile apps that allow them to take action with their money and help them accomplish every day financial tasks, such as bill pay and household budgeting,” says the company statement.
Check has similarities with personal finance app, Mint, which Intuit purchased for $170 million in 2009. Although they both keep tabs on bank accounts, Check has added bill-paying capabilities.
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